A chit fund is a type of financial arrangement that involves a group of individuals coming together to contribute money into a pool at regular intervals. The collected funds are then given to one member of the group, known as the "prize subscriber," through an auction-like process. This cycle continues until each member of the group receives a turn to receive the pool of funds. Chit funds are a form of informal savings and lending system that is commonly used in some cultures to meet financial goals. For more details about how chit funds work visit https://kopuramchits.com/all-about-chits/ and know all about chit funds.
I would say, Chit fund is a great platform to investment since it is a safe and secure investment where you can get assured high returns while other investments like recurring deposits (to know more about RD vs chit fund visit https://kopuramchits.com/rd-vs-chitfund/), share market, real estate either involves huge risk or gives you low returns. More over in chit funds you will be allowed get the prize amount in advance on an auction or in commitment basis, but it is Important to choose the company which is trustworthy and gives high returns one such company that I know is that Kopuram chits private limited which is 10+ years old and also it operates digitally. For more information visit https://kopuramchits.com/ so that you can get more information about the company and chit funds.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!